Donald Trump, White House, United States discussed on Knowledge@Wharton
Again, eight four four nine four two, seven, eight six, six, or if you'd like sense to combat via Twitter, either at Biz Radio one eleven or my Twitter account, which is at Dan Loney 21. You mentioned Professor Siegel about how you don't think that this feels like it will be able to move forward because of the Republican push pushback, but also seemingly their felt like there was pushed back within the White House itself. Two two, two, two, bringing this idea forward seemingly was a surprise to a few people out there. You see in any. There there's there's the Republican agenda for the economy, um, a which is good for the stock market and has been, and to the extent that we, uh, that Trump is of course a Republican president. He's an enabler of the report that part of the Republican Gin. Then there's the Trump agenda that does that differs from the Republican Jan. This is the trade restrictions and the immigrant description restrictions those two parts The market does not like so. You know, now he is moving into the part of his agenda, which did not, uh, synchronize and Correspondent Republican Jenin. He's going to get pushback from the White House. You can get Boop pushback from public. I mean, there's idea you'd on national security. I mean, it sort of ludicrous. Uh, I mean how he can't do a number of things unilaterally, but Congress could step in the way. And as I said, Uh, you. He don't yet one as to who member Here's a president debt. Very proud of the fact that the stock market has done very well over his tenure. Uh, if the market starts taking because of these policies, Um, It doesn't look good and doesn't look good for him, and he might register Well, you know, I mean, would you how far does you want to push ahead unilaterally on this of one of the you know, the accomplishments He's crowing about suddenly falls apart And uh. That would certainly mean be a, a huge negative because whatever Don't forget what, whatever positive as in the polls is due partly to the good market And, and, and the continuation of a good economy that has really, you know, snow started since we started the recovery from the great recession. So that's a continuation on that need doesn't want one of the legs of his of his support too, to fall out from, from under him. So you know, he may be much more. We'll see you. We may be made me much more responsive to the blow back from the Republicans and, and people Cohen up about, Hey, you're taking the markka we thought you were pro-market. Uh, then, um. That would cause them to be far more cautious, Matt. Well, um, first of all, um, this move is an attempt to help the stealing into Lewis sectors at the expense of every other sector. Um, supporting us inside the White House, uh, is Wilbur Ross, the Secretary of Commerce, who made his fortune in the steel sector, um, US trade representative, Bob, White highest there, uh, who has a significant, How do significant numbers steel and aluminum clients we practiced law, um, uh, for decades and might to be planning to go back to that practice after he's US Trade Representative with those clients. Uh, and Peter Navarro Navarro an economist, which who is considered, um, shall we say an outline ever caught him missed and who certainly has always told Trump what he wanted to hear. Everyone else in the White House strongly oppose this. Everyone almost everyone in Congress begged him not to do it. Um, and during the week. Uh, you know, I think in the course of the year He hasn't he struggled with the decision, but a over what happened was Congress the Commerce Department, finished its. Investigation, which had to happen before you have the power to impose these duties. He's in a month period where now he has to make the decision. And according to the Washington Post Yet had an emotional meltdown last week, because hope Hicks, um, spoke to Robert Muller and answered some of his questions and then resigned. Uh, and he trusted Hotek said very much as a close friend and confidante and he had an emotional meltdown. Uh, when he sense that he she betrayed him in. This may well have been Donald Trump literally acting out. I mean, he does. He does have a a great deal of the motion little baggage him And we're looking at something was very, very serious implications that is supported by two people the conflicts of interest. Someone else who's, uh, who's economics or outlying your best. Uh, and and Donald Trump's emotional baggage. I mean, this is very serious situation and very serious manifestation of the problem of having someone. Uh, like Mr Trump in the White House. And it also seems now they with uh, some of the comments he is put out on Twitter too. Day that he is also linking this back to the NAFTA negotiations as well, Matt. Well, yeah, he's food cancer is the biggest exporter of steel end of aluminum to the United States. Um, and this is not directly connected to NAFTA uh, because this type of duty is not easy duty that gets impose, whether or not you of a free trade agreement with the, um, the country That's exporting goods to the United States only ordinary customs duties again, a limited by free trade agreements, not those special duties, like the idea that we do this kind of going duties. Are these national security duties? But the fact is, is that the Canadians are are beside themselves for reasons that are not surprising. Um, you not to negotiations frankly. Um, you know, we're we're struggling Anyway. They wish they they were going to achieve a, a series of very small gains and nothing else and probably going to be put off for a year for the Mexican elections in the US matures before being completed in now with this. Um, uh, I, you know, who knows what's going to happen that the idea of uh, and I saw this a couple of articles re. Salih mats, the idea of targeted tariff specifically at China, would that have been may be a better option. Uh, we've not available under under international trading rules. Um, you know, there's two different sets of law here. You, at statute remembered. The constitution gives the Congress, the power to impose a trade barriers. Congress delegates the power to the, to the executive branch and very to find situations. And under the US statute, you gotta do this investigation show. We had a national security needs. Uh, and now he has a statutory authority to do it. But under the international law obligations under the World Trade Organization to Canada, Mexico, and two hundred sixty three total other countries. Uh, we have obligations that that prevent us from just import is posing these types of duties. Unless we reach the national security criteria of the international law, which is much tougher, and we don't reach that requires that we be in time of war or any emergency in international relations. We don't have that. So the long in the short of it, Uh, is that he's violating the international law. But, um, you know, uh, under the US statue in this situation you had to have.